The swing continued all through the trading session with BSE Sensex and Nifty 50 moving in between gains and losses in Thursday’s trade. BSE Sensex ended just 32 points up at 49,766, even though the Nifty 50 index settled 30.35 points up at 14,895 level. Index heavyweights such as Reliance Industries Ltd (RIL), Bajaj Finance, Bajaj Finserv and Axis Bank helped the index to finish in green. In the broader marketplace, the S&P BSE MidCap index ended 36 points or .18 per cent decrease at 20,445. While S&P BSE Smallcap index gained 28 points or .13 per cent to settle at 21,686. India VIX, volatility index, jumped 3.21 per cent to finish at 23.31 level.
Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
The Index has taken a bit of a breather immediately after crossing 15000 earlier in the day. It is also a bout of profit booking considering the fact that today was the month-finish expiry. The markets appear to be bullish and the Nifty has wings to move up additional to levels closer to 15100-15200. Dips can be utilized to acquire this marketplace.
Rohit Singre, Senior Technical Analyst at LKP Securities
Index once again opened a day with a great gap but profit booking from greater-finish led index to close with minimal gains at 14880 and formed a bearish candle on the day-to-day chart immediately after 5 consecutive green candles. Index retraced from its sturdy hurdle zone of 15k mark previously also we witnessed profit booking from similar levels if we failed to sustain above 15k mark we could see sort of profit booking in coming sessions towards quick help zone of 14800-14750 zone.
Ashis Biswas, Head of Technical Research at CapitalVia Global Research
The marketplace witnessed some sturdy trend and an try to overcome the resistance level about the Nifty 50 Index level of 15000. While sustaining above 14800 is the essential element from a quick-term point of view, our investigation suggests, sustaining above this level marketplace to achieve momentum and to open the gate for a movement till 15200. The momentum indicators like RSI, MACD to remain positive and marketplace breadth to strengthen, additional strengthening the view of a quick-term bullish outlook.
Deepak Jasani, Head of Retail Research, HDFC Securities
Indian Benchmark equity indices ended with marginal gains on April 29 immediately after providing up most of the opening gains. The Nifty opened greater but fell in the early component of the day to make an intra day low at 1050 Hrs. A feeble recovery followed amid volatility on April F&O expiry day. At close, the Nifty was up 30.40 points or .20% at 14,894.90. Volumes on the NSE had been in line with current averages. Among sectors, Metals was the principal gainer even though PSU Bank and Auto indices fell the most. Indian steelmakers rose immediately after China tweaked its import and export levies on steel, signalling that the world’s biggest customer of the alloy is prepared to import more to meet its developing requirement. Nifty failed to hold above 15000 level. Negative advance-decline ratio suggests some caution amongst marketplace participants. 15050 could be a resistance on the up for the Nifty even though 14695 could act as a help. Going by the slow fall seen so far, it appears that Nifty has not but made a leading in this upmove.
Vinod Nair, Head of Research at Geojit Financial Services
The domestic marketplace was torn in between negatives and positives on a volatile trade owing to the month-to-month F&O expiry. The Fed in its meeting sealed financial self-confidence by maintaining its monetary policy loose and reaffirming aggressive help by means of bond getting. Metal stocks continue to outshine other sectors on sturdy outlook.
S Ranganathan, Head of Research at LKP Securities
An upbeat mood for metal stocks – steel and aluminium but once again helped Indices to close flattish on a day of heightened volatility. Cement stocks and Private Banks lent help to the Bulls even as we saw profit booking on earnings today.